GBPUSD SLIDES AS DUP COMMENTS SEND THE POUND LOWER

The GBPUSD pair has fallen below the 1.2700 level in Monday trading, as Democratic Unionist Party leader Arlene Foster has said she will seek to get the best possible deal for Northern Ireland in talks with the Conservative Party this week.

The British pound has started to move lower after the comments were made, as financial markets face the very real reality the two Parties may be unable to agree on terms of a coalition.

British Prime Minister Theresa May's Conservative Party needs the DUP Parties ten seats to be able to govern the UK after she failed to secure an absolute majority in parliament.